Childs savings?

ss53

kidmugsy wrote: »

Aren't kids today spoilt?

Totally spoilt.

40 grand in debt after 3 years at university when their parents had no fees and grants.

A housing market that's virtually impossible for first time buyers.

Housing and other benefits disappearing for under 25s.

Disappearing final salary pension schemes that were the norm for their parents.

I glad I wasn't that spoilt.

sambalina

I have a Young Saver for my daughter, I get 3% on that. I wanted to have more control over her money, I didn't get that with a JISA. at the moment im still on maternity leave, so not able to put a great deal away for her at the moment, but once I go back to work I will be able to save a bit more for her.

kidmugsy

ss53 wrote: »

40 grand in debt after 3 years at university when their parents had no fees and grants.
YES, BUT NOT EXPECTED to produce much intellectual exertion to get into university, or to stay there.


A housing market that's virtually impossible for first time buyers.
IN LONDON; but not everywhere. Anyway, they could always do what I did; get a second job.


Housing and other benefits disappearing for under 25s.
BUT THEY'VE GOT UNIVERSITY DEGREES so why would they need benefits?


Disappearing final salary pension schemes that were the norm for their parents.
BUT THEY'LL INHERIT Mum and Dad's house eventually; and unlike earlier generations they won't have to contribute to the finances of the old folks if the old have final salary pensions.

These are the same impoverished young who I see lavishing their money on huge beakers of slightly coffee-flavoured warm milk?

greggymagic

kidmugsy wrote: »

These are the same impoverished young who I see lavishing their money on huge beakers of slightly coffee-flavoured warm milk?

Lovely bit of generalisation there.

How many youths in your local coffee shop?

How many young people in the UK today.....

Do you think you're seeing one thing and then just filling in the blanks with your own perceptions......??

somethingcorporate

I put away £100 a month in my S&S ISA for my little one, I'll top it up periodically when I get bonuses - I'd like to have £20k to give her when she is of age.

I'll also be putting aside £50 a month for my niece/nephew to be.

atush

kidmugsy wrote: »

These are the same impoverished young who I see lavishing their money on huge beakers of slightly coffee-flavoured warm milk?

I don't see this, as I would not even entertain the idea of buying anything there?


I don't waste cash on poncy coffee so never see this. And if any person here (younger or old) complains they can't save this is the first place I tell them to look?

atush

somethingcorporate wrote: »

I put away £100 a month in my S&S ISA for my little one, I'll top it up periodically when I get bonuses - I'd like to have £20k to give her when she is of age.

I'll also be putting aside £50 a month for my niece/nephew to be.

Well done, but try that if you have triplets lol.


what does of age mean?


I only gave the cash out for Uni. If they didn't go I'd have made them wait for any till 21+

jimjames

kidmugsy wrote: »

These are the same impoverished young who I see lavishing their money on huge beakers of slightly coffee-flavoured warm milk?

And £600 on the latest phone.

Generalisation yes but I know a lot of people who complain they cannot afford a deposit to buy a house but drive a brand new car or have the latest iPhone every time it comes out. Much easier to say you can't afford something than to sacrifice certain items to save for it. As I seem to keep mentioning, small items do add up over time so cutting them out can start to build savings even if times are more difficult.

Eco_Miser

atush wrote: »

what does of age mean?

"Coming of age" used to mean turning 21, the age at which you could vote, and get married without your parents' permission, and enter into legally binding contracts without a co-signer; but that changed back in 1970. It probably means 18 now.